At Any Rate

Preparing for the Big Bang transition to SOFR discounting

In this conversation, J.P. Morgan Research analysts Josh Younger and Henry St John discuss the upcoming Big Bang transition to SOFR discounting for cleared swaps, with a focus on key developments this week, as well as an overview of some of the mechanics involved with the transition process.

 

This podcast was recorded on September 15, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at https://www.jpmm.com/research/content/GPS-3494132-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “Preparing for the Big Bang transition to SOFR discounting: 15 September 2020.” © 2020 JPMorgan Chase & Co. All rights reserved.

U.S. Fixed Income: Have Fed Bond Purchases Gone Too Far?

In this conversation, J.P. Morgan Research analysts Matt Jozoff, Alex Roever, and Jay Barry discuss the Fed’s balance sheet and securities holdings, and evaluate the case for tapering the pace of securities purchases.

 

This podcast was recorded on September 8, 2020.

This communication is provided for information purposes only.  Institutional clients can view related material at www.jpmm.com/#research.rates.us for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “Have Fed bond purchases gone too far?: September 8, 2020.” © 2020 JPMorgan Chase & Co. All rights reserved.

Volatility Risk and the U.S. Presidential Election: A Cross-Asset Perspective

In this conversation, J.P. Morgan Research analysts Josh Younger, Henry St John, Khagendra Gupta, Ladislav Jankovic, Bram Kaplan, and Pavan Talreja provide a global cross-asset perspective on volatility risk and the upcoming U.S. presidential election.

 

This podcast was recorded on September 2, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at www.jpmm.com/research/content/GPS-3482158-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “A cross asset perspective on volatility risk and the U.S. Presidential Election: 2 September 2020.” © 2020 JPMorgan Chase & Co. All rights reserved.

 

U.S. Fixed Income: Reviewing Treasury's Quarterly Refunding Announcement

In this conversation, J.P. Morgan Research analysts Jay Barry and Phoebe White discuss Treasury's August refunding announcement and the outlook for Treasury issuance going forward.

 

This podcast was recorded on August 5, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at www.jpmm.com/research/content/GPS-3454904-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “7-10 split: August refunding review.” © 2020 JPMorgan Chase & Co. All rights reserved.

Core CPI Moves Past Its Weak Streak

In this conversation, J.P. Morgan Research analysts Phoebe White and Dan Silver discuss the June CPI report released this week, their outlook for US inflation over the medium term, and implications for various inflation hedging strategies.

 

This podcast was recorded on July 14, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at www.jpmm.com/research/content/GPS-3428163-0 0  andwww.jpmm.com/research/content/GPS-3425399-0  for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “Core CPI moves past its weak streak.” © 2020 JPMorgan Chase & Co. All rights reserved.

U.S. Fixed Income: Outlook for U.S. Treasuries

In this conversation, J.P. Morgan Research analysts Alex Roever and Jay Barry discuss the outlook for U.S. Treasury markets in the second half of 2020.

  

This podcast was recorded on June 23, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at www.jpmm.com/research/content/GPS-3407235-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “Outlook for US Treasuries, 2H20.” © 2020 JPMorgan Chase & Co. All rights reserved.

Cryptocurrency Takes Its First Stress Test

In this conversation, J.P. Morgan Research analysts Josh Younger, Mika Inkinen and Henry St John discuss cryptocurrency price action amidst recent market volatility, contrast liquidity conditions with major asset classes, and discuss various considerations for intrinsic value.

  

This podcast was recorded on June 17, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at https://www.jpmm.com/research/content/GPS-3399002-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “Cryptocurrency takes its first stress test: June 17, 2020” © 2020 JPMorgan Chase & Co. All rights reserved.

U.S. Fixed Income: Negative Fed Funds, More Negative Swap Spreads

In this conversation, J.P. Morgan Research analysts Alex Roever, Jay Barry, Josh Younger and Henry St John discuss the outlook for more deeply negative swap spreads off the back of last week’s TBAC refunding announcement, and the move last week by the Fed funds futures market towards pricing negative rates.

  

This podcast was recorded on May 12, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at https://www.jpmm.com/research/content/GPS-3364041-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “Negative Feds funds futures and more negative swap spreads: May 12th 2020” © 2020 JPMorgan Chase & Co. All rights reserved.

Pandemics, Crashes and Wars: What's the Fed's role?

In this conversation, J.P. Morgan Research analysts Mike Feroli, Jay Barry, and Phoebe White discuss takeaways from the April FOMC meeting and compare the Fed's actions during the COVID-19 crisis with steps taken in WWII.

 

This podcast was recorded on May 4, 2020.

This communication is provided for information purposes only. Institutional clients can read the related report at www.jpmm.com/research/content/GPS-3349352-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “QE and YCC in wars, pandemics, and crashes, May 4 2020.” © 2020 JPMorgan Chase & Co. All rights reserved.

U.S. Fixed Income: Liquidity or Bust

In this conversation, part of a series focused on U.S. fixed income markets, J.P. Morgan Research analysts Josh Younger and Henry St John discuss the Fed’s recent temporary supervisory changes to SLR, the reason for it, and its implications for derivatives markets.

  

This podcast was recorded on April 6, 2020.

This communication is provided for information purposes only. Institutional clients can view related material at http://www.jpmm.com/#research.rates.us for more information; please visit www.jpmm.com/research/disclosures for important disclosures. A version of this podcast was previously disseminated to institutional clients with the title “Liquidity or bust: April 6 2020.”  © 2020 JPMorgan Chase & Co. All rights reserved.